Bitcoin ETFs Flooded With $6.34 Billion in Net Inflows Amid Surging Demand
The US cryptocurrency market has seen significant developments this week, with Bitcoin exchange-traded funds (ETFs) reversing a multibillion-dollar outflow trend. According to data from SoSoValue, U.S. spot Bitcoin ETFs attracted $6.34 billion in net inflows during the third quarter, marking a reversal of approximately $5 billion in outflows during the second quarter.
This came as Bitcoin gained 42.7% for the quarter, its strongest quarterly performance since the fourth quarter of 2024. The surge in demand has led analysts and financial institutions to point towards higher price targets, with Citigroup raising its Bitcoin forecast to $113,000.
Meanwhile, Washington remained central to the industry's conversation, with lobbying efforts reaching $13 million during the first half of 2026. California Governor Gavin Newsom accused President Donald Trump of selling access to the White House after a dinner was announced for Official Trump token holders, sparking controversy around memecoin-linked events.
The Securities and Exchange Commission (SEC) has also turned its attention to crypto custody, with Chair Paul Atkins highlighting a new proposal designed to establish a regulatory framework. The proposal aims to address the industry's growth from a 'niche curiosity into a multi-trillion-dollar asset class', where regulations have failed to keep pace.